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Rivers State University, Port Harcourt.
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| Title: | Effects of Public Debt on Infrastructural Development in Nigeria's ICT Sub-Sector |
| Author(s): | Nwikina C. G, Gbarayorks L. W, Ewubare D. B. & Amadi S. N. |
| Abstract: | There is growing research on public debt in Nigeria but emphases have been on its effects on the overall economy. One area of little study is public debt use for ICT subsector infrastructure development in Nigeria. This paper therefore investigated how public debt affected infrastructure development in the Nigerian ICT industry. The independent variables were external debt, domestic debt, debt payments; government spending on ICT infrastructure was the dependent variable. The Auto-regressive Distributed Lag (ARDL) model was used in data analysis. The data showed that although foreign debt drastically dropped ICT infrastructure growth, domestic debt and debt payment raised ICT infrastructural development not considerably. The study found that while externally borrowed funds are not being used to fund projects in the ICT sub-sector in Nigeria, government domestic debt is being used to fund infrastructure projects in the ICT sub-sector; hence, there is inverse effect of external debt on ICT infrastructure. The study advised that the Nigerian government should allocate a sizable portion of the borrowed money to develop home-grown technologies that would be exported to generate returns for the government likewise make sufficient provision for ICT infrastructure upgrading and development. |
| Keywords: | Debt servicing, domestic debt, external debt, ICT sub-sector, Nigeria, Public debt |
| Journal: | Journal of Economic Research and Development Studies Vol 1 No 1 |
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